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Cardano (ADA) is entering a decisive moment as bulls fight to hold the $0.74 support zone and build momentum for a move toward the $0.90 level. After gaining over 68% since its April lows, ADA is showing strong signs of recovery, but it must defend current levels to confirm continuation. This phase is critical, as price action tests a key demand zone that previously triggered significant upside.
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Adding to the bullish sentiment, on-chain data from Santiment reveals that whales have accumulated over 80 million ADA in the past 48 hours. This surge in large-scale buying activity points to growing confidence among big players, potentially setting the stage for a breakout. Whales often lead major market moves, and their renewed interest in Cardano may be signaling a sustained rally ahead.
However, the $0.90 level now acts as a near-term resistance, and reclaiming it will be essential to unlock higher targets. The coming days are likely to be pivotal for ADA’s price structure. If bulls manage to flip this level, the next leg up could bring Cardano back into the spotlight—possibly reigniting broader altcoin enthusiasm in the process.
Whale Accumulation Signals Strength: Buyers Push For A Breakout
Despite this impressive rebound, ADA remains 43% below its December 2024 highs around $1.32. This gap highlights the cautious optimism that dominates the altcoin landscape. While bulls are gradually regaining control, overall market fear and macroeconomic uncertainty continue to pressure altcoins, many of which are still struggling to push through key resistance levels.
ADA is currently consolidating just above the $0.74 level, forming a base that could precede a breakout. Market structure is tightening, and the next move—upward or downward- will likely be sharp. A decisive push above $0.90 would confirm a breakout and likely trigger renewed interest from retail and institutional investors.
Fueling this narrative is fresh data from top analyst Ali Martinez, who reported that whales have purchased over 80 million ADA in the last 48 hours. This large-scale accumulation points to increasing confidence among big players and could act as a catalyst for further upside. Whale activity often precedes strong price action, and this development supports the idea that ADA may be on the verge of a significant move.
As ADA consolidates near critical support and whale interest grows, market watchers are closely monitoring for signs of continuation. If bulls maintain momentum and break past resistance, Cardano could quickly shift from a consolidation phase to a full-scale rally, potentially reigniting momentum across the altcoin sector.
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Cardano Holds Crucial Support As Bulls Aim For Recovery
Cardano is currently trading around $0.74, testing a key support zone after failing to hold above the $0.80 mark. The chart shows a strong surge earlier in May that brought ADA to local highs near $0.90, but since then, the price has retraced and is now consolidating just above its 200-day EMA (around $0.71). This level is acting as dynamic support and could be critical for the next move.
The price structure suggests ADA is in a decisive phase. A breakdown below the EMA and the horizontal support around $0.72 could expose the token to a deeper retracement toward previous consolidation zones. On the other hand, reclaiming $0.80 would invalidate the bearish scenario and signal a potential push toward $0.90 and eventually $1.00—an area that marks strong historical resistance.
Volume has declined slightly during the recent pullback, suggesting the retracement may be driven more by profit-taking than panic selling. The 200 SMA above at $0.80 remains a key target to watch for bullish continuation.
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If bulls can defend current levels and generate renewed buying momentum, ADA could resume its upward trend and break the current range, setting the stage for a retest of major resistance levels in the weeks ahead.
Featured image from Dall-E, chart from TradingView
